FY15 Forecast & FY16 Budget Development Calendar

Early November:  Initial planning meeting with Joann Mckenna and Andrew Shepardson

o Discuss undergrad tuition, housing & meal plan rate increases, enrollment, housing, etc.

 Initial planning meeting with Mike Page, Chip Wiggins and Dorothy Feldmann

o Discuss graduate tuition rate increase, cohort pricing, registration & enrollment trends, new initiatives (i.e. online learning & degree completion), and tying faculty needs into registration and enrollment projections

Late November/ Early December: Set aside Cabinet meetings to discuss budget planning process; and new members of Fin Ops (Tina Sawtelle & Andrew Coole, replacement for Tricia Wood) to do a round of introductory meetings

December 4 th : FY15 Forecast & FY16 Budget modules open for input by all admin departments and academic affairs

December 9th: Administration & Finance Committee Meeting – Preliminary discussion of FY16 tuition pricing and expected major budget drivers such as financial aid, salaries & wages, capital projects and strategic initiatives

January 8th: Executive Committee Meeting – approval for tuition, room & board increases

January 9 th : FY15 Forecast submission deadline for all administrative departments and academic affairs

January 14th: Long-range capital plan submitted to capital managers for update and review

January 30 th : FY16 Budget Requests due to Fin Ops for all administrative departments except academic affairs (due to faculty being on winter break)

February 6th: Administration & Finance Committee meeting – Review FY15 forecast & preliminary approval of the President’s Academic Innovation Fund & 10 year financial plan

February 6 th : FY16 Budget Requests due to Fin Ops for academic affairs

February: Individual meetings with Fin Ops and divisional VPs and key strategic groups to review and vet budget/forecast submissions

February TBD: Meeting to review and vet the consolidated FY16 capital plan. Attendees will include Fin Ops, Ken Cody, and key capital project managers (i.e. IT, Facilities, Academic Affairs, etc.)

First Week of March: One day budget retreat with cabinet to review FY16 budget submissions, 10 year plan, and finalize and approve the capital plan

Second Week of March: Half day budget retreat with cabinet to regroup and finalize the FY16 budget and long-range plan

March 31st: Administration & Finance Committee Meeting to approve FY16 budget

Early May: Tentative Administration & Finance Committee Meeting to review any revisions to the FY16 budget and the final FY15 forecast projections May 15th: Full board meeting to approve the FY16 budget and review the FY15 final forecast